UK sees 3Q growth in oil production

UK’s total production of crude oil and natural gas liquids in the third quarter this year grew 27 percent, when compared to the same period in 2014.

Worth noting, production in 3Q 2014 was at the lower levels than in any other quarter since 1977, but has since stabilized.

According to statistics issued by the UK Department of Energy and climate change, year to date, production is up 10.9 percent versus last year.

Net imports of primary oils in the third quarter decreased 23 percent at 5.5 million tonnes due to higher domestic production.

Indigenous UK crude oil production was 29 per cent higher in Q3 of 2015 compared with Q3 2014. As mentioned above, crude oil production in August last year was particularly low, largely because of planned maintenance at Buzzard, the UK’s largest oil field, but also due to the Nexen-run Golden Eagle field in the North Sea coming online in November 2014.